What’s the technology behind ICOICO?
Donation tokens issued on ICOICO are implemented on the public Ethereum blockchain and they are ERC20 compliant, which means they are compatible with the existing infrastructure of the Ethereum ecosystem and thereby allow token holders to use existing wallets, exchanges and the growing array of Ethereum apps.
Who else is using token issuances to fundraise?
Blockchain and its application through “initial coin offerings” (ICOs or “token issuances” for short) are transforming how startups fundraise. Since 2013 - when the first ICO was launched - more than 1,000 organizations, mostly operating in the blockchain space, have funded their projects through the issuance of blockchain tokens. Collectively they have raised an astonishing $1.65B, with $1.35B alone in 2017 so far. ICOICO brings coin offering technology to the nonprofit sector.
What is Ethereum?
Ethereum is a world distributed computer that is quickly changing how we interact, just like the internet did, 20 years ago. Like Bitcoin, it is based on a blockchain, but Ethereum is more than just a currency. It allows for applications and smart contracts to be run on top of its infrastructure allowing for:
- Transparent governance for communities
- Secure communications - authentication, messaging,
- Secure backbone for e-commerce and the Internet of Things
- Secure payments
- Integrated development environment for debugging, development and deployment of Ethereum applications
- Free software - all released under the General Public License (GPL)
How secure are these tokens?
Tokens are cryptographically encrypted through the new blockchain tools for authentication and authorization in the digital world that preclude the need for a centralized administrator. Tokens are stored in the Ethereum blockchain, which is currently the most secure blockchain, ahead of bitcoin and any other blockchain based on proof-of-work.
How tested is this technology?
Blockchain technology has been closely examined: millions of dollars have been spent researching blockchain technology over the past few years, and numerous tests for whether or not blockchain technology is appropriate in various scenarios have been conducted.
What do I need to get started?
You can get started today in 5 simple steps. Launching an initial coin offering on ICOICO is simple, transparent and secure:
- Sign up on icoico.io with an email and password.
- Provide information on the campaign: description, website.
- Provide details of the token issuance: total supply, date issuance starts and finishes, milestones if any.
- Upload your marketing materials or white-paper. That’s it!
How much does it cost?
Launching donation tokens on ICOICO is free for nonprofit organizations. At ICOICO we believe every little helps, and letting you fundraise at no charge is our way of contribution to organizations whose missions we share.
Will I know the identity of my donors?
ICOICO allows donations below $5,000 to be kept anonymous. For token purchases above $5,000, ICOICO will require donor to provide their identity so that private nonprofit can report them to the IRS.
Is my reputation at risk?
ICOICO accepts payments in Ether, the cryptocurrency behind the Ethereum network. Sadly, criminal transactions done on websites like Silk Road initially gave Bitcoin - and by association all other cryptocurrencies - a bad reputation as a mean to support criminal activities. Luckily, both the media and the public, and US corporations have come to realize of the security, speed and transparency advantages of bitcoin as a form of payment, and today the growing number of merchants accepting bitcoin include Microsoft, PayPal, Expedia, Intuit, Overstock, Wikipedia, Etsy, Dell, Dish Network and GAP, to name a few.
Who else uses Ethereum?
A growing number of large brands and corporates are using Ethereum as the infrastructure behind their applications. Just to name a few: J.P. Morgan, Credit Suisse, Banco Santander, Samsung, Accenture, ING, Intel, BBVA, Thompson Reuters, Mastercard, Microsoft, Deloitte, and Infosys.